Japan's Watchdog Agency
Ends Investigation of Nomura

By

Bill Spindle Staff Reporter of The Wall Street Journal

Updated July 16, 1997 1:54 a.m. ET

TOKYO -- Japan's securities industry watchdog ended its investigation of Nomura Securities Co. Tuesday, leaving it to the Finance Ministry to take what it called "appropriate administrative action" against the brokerage house for its alleged violations of securities laws.

The conclusion of the investigation by the Securities and Exchange Surveillance Commission brings the Nomura scandal, which broke in March, to its final stages. Nomura, Japan's largest securities company, has seen parts of its business gutted by...